How much is personal property tax in missouri

What is personal property tax?

Personal property tax is a tax based upon the value of taxable personal property.  Taxable personal property consist of motor vehicles, trailers, mobile homes, watercraft, boat motors, aircraft, livestock, farm machinery and equipment, agricultural crops and any other personal property not exempted by law.  The Market Value of an item is established by the County Assessor using a standard rate book provided by the Missouri State Tax Commission.  The Assessed Value is a percentage of the Market Value.  The Assessed Value of an item multiplied by the tax rate (levy) for your district determines the amount of personal property tax you pay.

All taxable personal property shall be assessed in the county in which the owner resides the first day of January each year. 

Percentage of Market Value That Determines Assessed Value

How to calculate your Property Tax amount:

• Determine Assessed Value for the property (see below for instructions to locate the amount).
• Divide Assessed Value by 100.
• Multiply the amount by the tax rate:
  • Residential Real Estate Rate for General Fund:  0.10 (Maximum)
  • Residential Real Estate Rate for Overland Police Pension: 0.24 (Maximum)
  • Personal Property Tax Rate for General Fund:  0.10 (Maximum)
  • Personal Property Rate for Overland Police Pension: 0.36 (Maximum).
  • Commercial Real Estate Rate for General Fund:  0.10 (Maximum)
  • Commercial Real Estate Rate for Overland Police Pension: 0.36 (Maximum)
• The result is the amount you will pay to the Overland Police Pension for the tax year.

Example (Residential Real Estate):

Example (Personal Property):

How to find your Real Estate Property Assessed Value:

• Visit www.stlouisco.com/onlineservices 
• From the left column, select “Real Estate Information.”
• Search for your property using Search Input box on lower left side of the page.
• Select your property from list on the lower right side of page.
• From the left column, select “Tax Amounts Due.”
• Locate the Assessed Value Amount.

How to find your Personal Property Assessed Value:

• Visit www.stlouisco.com/onlineservices 
• From the left column, select “Personal Property Information.”
• Search for your property using Search Input box on lower left side of the page.
• Select your property from list on the lower right side of page.
• Under “Vehicle Detail” look for the Total Assessed Value for all property.

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Property Tax Assessment Procedure

Every person owning or holding real property or tangible personal property on Jan. 1 of any calendar year shall be liable for taxes, with exemptions for certain properties, such as those for charitable, educational and religious purposes. All taxable real and personal property within the City is assessed annually by the county assessors. For residents of Kansas City, real and personal property taxes, other than for railroads and utilities, are included on the county property tax bill. No separate billing for these taxes comes from the City.

Missouri law requires that property be assessed at the following percentages of true value:

• Personal property 33 1/3 percent
• Residential real property 19 percent
• Agricultural real property 12 percent
• All other real property 32 percent

A general reassessment of real property occurred statewide in 1985. Beginning Jan. 1, 1987, and every odd-numbered year thereafter, each county assessor is required to adjust the assessed valuation of all real property located within the county in accordance with a two-year assessment and equalization maintenance plan approved by the State Tax Commission.

Property Tax Rates

Property tax rates in Kansas City, Mo., include the following levies:

* per $100 of assessed valuation

A Missouri constitutional amendment limits the total amount of taxes which may be imposed in any fiscal year. Provisions are included in the amendment that establishes levy rates so as to produce an amount of revenue equal to that of the previous year. The limit may not be exceeded without a majority vote. The assessed valuations of new construction, new personal property, and newly annexed areas are exempt from this limitation.

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Do you have to pay personal property tax every year in Missouri?

How much is yearly property tax in Missouri?

How do I find my personal property tax in Missouri?